Information about updating from v. 2.79 to v. 2.79b
Try path: %APPDATA%/Blender Foundation/Blender/ (Windows) there should be a folder called 2.79, this is shared between all 2.79 series of blender include 2.79b

This is the preference and start up and some script setting folder. You should manually backup these files before update to 2.79b if you are worry about it.

After install 2.79b, you can manually copy back your backup files(not recommend, only setting is lost or blender failed to import old preference)